Vanuatu has become extremely popular with its emergence as a major player in the business world. Investors have found out that company formation there is highly profitable, and incorporation can be done at low prices. Where is Vanuatu? Why is there continuing to be explosive growth of company formation in this rapidly growing location? Those questions and more will be answered in this blog.
Pertinent Information about Vanuatu
Located near the halfway point between Hawaii and Australia in the South Pacific Ocean region, it is made up of 83 islands. The accumulative population is roughly 195,000. It has become the prime location for offshore company formation largely due to the fairly recent implementation of the International Business Companies Act, aka IBC. The model for this Act was derived from a similar one in the Bahamas. Another significant reason is the relatively low fees to incorporate there.
What Laws Should Investors Know About?
Anybody considering forming a company in Vanuatu ought to be familiar with the applicable laws. For the most part, Vanuatu is under English Common Law. It is understood, however, that the region’s constitution enables Parliament to take away British laws that were enacted prior to Vanuatu’s independence. The laws regulating corporations there are as follow:
- The Companies Act
- The Banking, Insurance, Stamp Duties and Trust Companies Act
- The International Companies Act which came to fruition in 1993
Benefits of Vanuatu Offshore Company Formation
There are many to speak of; however, this blog will focus on a few of the key benefits. The main one is that no corporate taxes exist there. Vanuatu does not require any corporation to pay taxes. Another huge benefit is the privacy factor. Owners, shareholders, or directors do not need to disclose private information to the public in any manner. This pleases many business owners.
A couple of other benefits to incorporating in Vanuatu include the stability of its government and that English is their official language. It must be noted that investors may speak another language in addition to English. People of any foreign country are welcome to incorporate a business there.
Is There Any One Particular Business Industry in Vanuatu?
Anyone who wishes to incorporate any type of business is welcome. Following is a sampling of those that are already in Vanuatu. It needs to be said that a business owner is NOT mandated to choose one of these industries. All people who have “taken the plunge” are now reaping the rewards.
Some industries already represented there are holding companies, asset protection companies, e-commerce companies, consultants, expatriates, digital marketing firms, and so on. Find out how easy it is to set up a corporation here, keep reading.
What Are the Steps to Take to Accomplish This?
A list of steps is right here. Keep in mind each step has its own instructions. They are as follows:
- Fill out application
- Upload required documents
- Register your Vanuatu offshore company
- Recommended services (optional)
- Dispatching of company kit
Frequently Asked Questions about Doing This
Is the registration process long? If a business owner goes through a firm that knows exactly what they are doing, completion of registration should only take 5 days.
What Is the business stability factor in Vanuatu? Very good. They boast phenomenal economic growth rates. It bears repeating that the government is stable as well. This contributes to the economic stability in that region.
Do the shareholders or directors of the companies need to be located in Vanuatu? No, that is not a necessity. They can be located anywhere.
Now that company owners know of all the perks of Vanuatu offshore company formation, why wouldn’t they want to do it? It is very profitable to expand the horizons of a company. There is no better place than Vanuatu to do that. Explore the possibilities with someone who knows all the ins and outs of incorporating here today!